Company Registration in Ukraine

Updated on Thursday 19th January 2017

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Company Formation Ukraine.com provides all the necessary instruments for company registration in Ukraine such as offering a registration office, opening a banks account, drafting the foundation documents.

The process of company incorporation in Ukraine starts with choosing the proper form of business. The Ukrainian entrepreneurs can chose from the below forms of business.

TYPES OF BUSINESS ENTITIES IN UKRAINE

Establishing an Ukrainian TOV - Limited Liability Company. In Ukraine the limited liability company is a form of business established by small businesses as the maximum number of shareholders cannot exceed 10 and the provided minimum share capital consist of minimum 100 minimum salaries at the moment of registration.

At least half of this capital must be paid at registration and the other half in maximum one year after the registration. The capital of the TOV is divided into shares which are transferable only with the full consent of the company members. The management of the Ukrainian TOV is assured by the general meeting of participants, the Board of Directors and a General Director appointed from the members of the Board of Directors.

Other form of Ukrainian company is the Additional Limited Liability Company. The founders of a Ukrainian Additional Limited Liability Company must deliver a contribution of at least 100 minimum salaries and their personal assets can be used if necessary to cover the outstanding liabilities.

A Ukrainian PrAT- private joint-stock company or PuAT-public joint - stock companies are forms of business especially designed for medium and large businesses. Both of these entities must have a share capital of at least 1250 salaries at the moment of registration and the main difference is that the private joint-stock company cannot freely trade its shares to the public while the PuAT-public joint-stock company has its shares freely transferable and can be listed on a stock exchange. The main bodies which govern the joint stock companies are the general assembly, the executive body and a supervision body.

In General Partnerships created in Ukraine all the members are united under the same economic purposes and share the same responsibilities and liabilities for the company’s debts.

A Limited Partnership incorporated in Ukraine is formed by at least one general partner with unlimited liabilities for the company’s debts and one silent partner with responsibilities limited by their contribution to the capital.

INCORPORATION PROCEDURE IN TURKEY

Before applying for the registration at the Ukrainian Registration Office, the company’s representatives must notarize the company's charter or articles of association, opening a bank account and pay a registration fee.

The registration documents necessary for company incorporation in Ukraine consists in two copies of the application form, copies of the company's charter or articles of association, the minutes of the meeting where the decision of incorporation was taken, bank certificate related to the payment of registration fee and depositing the share capital. As the registration is made through a one stop shop, the registration with the Social Insurance Fund, the Industrial Accidents Fund, Employment Fund and Pension Fund and tax authorities is also made.

After applying at the one stop shop and receiving the certificate of registration, the newly established companies must register for VAT with the State Tax Authority. Also an official seal necessary for all the transactions must be purchased from stationary shops. The last step of registration consists in converting the initial temporary bank account into a permanent one

The Ukrainian District tax authorities will be notified as soon as the permanent bank account is opened and the newly formed company can begin its actions in Ukraine.

ECONOMY OVERVIEW IN UKRAINE

Situated in a very advantageous area in the Eastern Europe, bordered by the Black Sea, Ukraine is offering great opportunities for the investors who want to start a new company. If you are interested in company formation in Ukraine, you should know that the work force is well trained (for example, Ukraine is on the 5th place in the world regarding the IT specialists.)

30% of the world soils are possessed by Ukraine, which leads to agricultural investments and makes this sector attractive for those thinking of starting a company in Ukraine. Also, Ukraine has great deposits of titanium, zirconium, iron, manganese.

Companyformationukraine.com is a part of Bridgewest.eu, an international network which has affiliated partners throughout the world, including Polish lawyers which can provide local legal assistance to foreign investors.

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